Viably and Airwallex Launch Cross-Border Payment Solution for eCommerce Businesses

Viably and Airwallex have partnered on a solution that enables eCommerce businesses to simplify cross-border transactions and manage multiple currencies in a single account.

The Viably Global Account, powered by Airwallex, allows sellers to pay vendors and suppliers around the world, collect payouts from marketplaces and manage all financial aspects of their business, the companies said in a Tuesday (Oct. 29) press release.

“Airwallex’s technology coupled with Viably’s eCommerce solutions empower eCommerce sellers to tap into international markets with the assurance that their financial needs are managed seamlessly, letting them focus on what they do best — getting new products, finding new customers and scaling their business,” Viably founder and CEO Doron Gordon said in the release.

The Viably Global Account is powered by Airwallex’s global payments and financial operating capabilities within Viably’s eCommerce financial platform, according to the release.

The solution can scale with the needs of global eCommerce operations, the release said.

With its capabilities added to the Viably platform, the platform offers eCommerce businesses global banking and payments, cash flow management, automated accounting and profit analytics, per the release.

“We’re excited to power Viably’s Global Accounts and further support the eCommerce ecosystem to maximize the potential of the digital economy,” Or Liban, head of Israel and the Middle East at Airwallex, said in the release. “With our cross-border payments and financial infrastructure, Viably now provides a one-stop shop for financial operations.”

Cross-border payments have soared in tandem with global trade, according to the PYMNTS Intelligence and Citi collaboration, “The Treasury Management Playbook: Spotlight on Cross-Border Payments.”

With businesses looking abroad to maximize growth and access the greatest number of customers, seamless and efficient cross-border payments are becoming increasingly important, the report found.

Airwallex said in August that its yearly processing volume increased 73% year over year to exceed $100 billion. The company saw increasing volumes across all products, including payments, foreign exchange (FX), payouts and issuing.

“While demand is slowing in many corners of the tech economy, serving the payments and financial operations of global businesses remains a significant market opportunity,” Airwallex Co-founder and CEO Jack Zhang said in an Aug. 15 press release.